LNG

TotalEnergies EP Nigeria has agreed to sell its 10 percent stake in Renaissance JV licenses to Vaaris Marine but retains its economic ties to blocks supplying feedgas to Nigeria LNG export terminal. The move signals majors are still committed to Nigerian LNG cash flows.

TotalEnergies, the French major and one of four shareholders in the Nigerian liquefied natural gas company, has held talks with the Nigerian President on investing more in the West African nation.

The countdown to the start of the expansion project for Nigeria’s liquefied natural gas plant, with the building of a seventh Train, has started after the signing of the first accord on LNG after the February re-election of President Muhammadu Buhari that ended months of indecision.